The Medicare Advantage Plan is a plan senior citizens purchase from a private insurance company that provides both Part A and Part B benefits, explains Medicare.gov. It is similar to regular health insurance plans with health maintenance organizations, special needs plans and preferred provider organizations. Most Medicare Advantage Plans also offer prescription drug coverage Part D.Continue Reading
In Medicare Advantage HMO plans, doctors, hospitals and other health care providers must be selected from within the network the plan offers, except in an emergency, states Medicare.gov. Most HMO’s cover prescription costs. With an HMO plan, referrals must be received from a primary care physician in order to see a specialist.
The preferred provider plans under Medicare Advantage policies provide a network of doctors, hospitals and other health care providers as well. Costs are lower if the network providers are used; however, coverage of out-of-network services is also provided at a lower percentage. Seeing a specialist does not require a referral from a primary doctor, according to Medicare.gov.
Medicare special needs plans under a Medicare Advantage policy are available to those with specific conditions and illnesses, Medicare.gov. reports. Doctors, hospitals and other medical providers usually have to be selected from a network of providers.
A Medicare prescription drug plan, or Part D, is purchased from a private insurance company and added to an original Medicare plan, explains Medicare.gov. Drugs covered are according to a tier system. Drugs in the lower tier cost less, and higher tiers are more expensive. Seniors who do not purchase Medicare Advantage plans can purchase these plans.Learn more about Health Insurance